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XAGUSD Investors prefer the US dollar over silver The XAGUSD pair shows a local downtrend after reaching year highs around $27 per ounce. Now the asset is correcting downwards, being at 25.56. Despite serious geopolitical tensions, the prospects for strengthening the position of silver remain low. The crisis in the energy market, caused by the refusal of the United States and some European countries to import Russian oil, will contribute to the growth of prices for "black gold" for a long time. Most investors will prefer to work with oil since the average volatility for the instrument allows traders to increase their capital from 5% to 10% daily, which is impossible to do in silver, which at best changes by 1 - 2% per week. Also, investors are looking forward to the March 15 meeting of the US Federal Reserve, which is likely to decide to raise interest rates, which historically is a negative signal for precious metals. After tightening monetary policy, the USD Index tends to rise, negatively affecting dollar-denominated silver contracts. Now it is around the psychological mark of 100 points, the prospect of reaching which will provoke investors into operations with the American currency. Support and resistance The price of the XAGUSD pair is moving above the wide sideways channel resistance line, rapidly approaching it. Technical indicators maintain a weakening buy signal: indicator Alligator's EMA fluctuations range narrows, and the histogram of the AO oscillator is clearly overbought, being high in the buying zone. Resistance levels: 26.4, 28. Support levels: 25.3, 24.

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